First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) Sees Large Volume Increase – Still a Buy?

First Trust NYSE Arca Biotechnology Index Fund (NYSEARCA:FBT) saw strong trading volume on Thursday . 79,809 shares traded hands during trading, an increase of 170% from the previous session’s volume of 29,609 shares.The stock last traded at $172.70 and had previously closed at $173.55.

First Trust NYSE Arca Biotechnology Index Fund Stock Performance

The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 17.20 and a beta of 0.86. The business has a fifty day moving average price of $170.27 and a 200 day moving average price of $168.47.

Institutional Trading of First Trust NYSE Arca Biotechnology Index Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Dominguez Wealth Management Solutions Inc. acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund in the 3rd quarter valued at $201,000. Blue Trust Inc. raised its stake in shares of First Trust NYSE Arca Biotechnology Index Fund by 3,248.6% during the third quarter. Blue Trust Inc. now owns 1,172 shares of the company’s stock valued at $202,000 after purchasing an additional 1,137 shares during the period. J.W. Cole Advisors Inc. purchased a new position in shares of First Trust NYSE Arca Biotechnology Index Fund in the third quarter valued at $203,000. Synovus Financial Corp acquired a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 3rd quarter valued at $203,000. Finally, Wharton Business Group LLC purchased a new stake in First Trust NYSE Arca Biotechnology Index Fund during the 3rd quarter worth $206,000.

First Trust NYSE Arca Biotechnology Index Fund Company Profile

The First Trust NYSE Arca Biotechnology Index Fund (FBT) is an exchange-traded fund that is based on the NYSE Arca Biotechnology index. The fund tracks an equal-weighted index of US biotechnology stocks. FBT was launched on Jun 19, 2006 and is managed by First Trust.